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Pew Charitable Trusts to host occasion on Ohio payday lending legislation

Pew Charitable Trusts to host occasion on Ohio payday lending legislation

This afternoon, Pew Charitable Trusts will host a meeting in Washington, D.C.focusing on Ohio’s Fairness in Lending Act. Enacted in July 2018, the Act puts new limitations on payday advances including mortgage cap, a limit in the total price of a loan, as well as other structural limitations. The Act can be considered a significant triumph for customer advocates aided by the possible become followed through legislation various other states or through ballot initiatives. (a week ago, Colorado voters passed a ballot effort that places a 36 % APR limit on payday advances.)

During the occasion, Ohio legislators from both edges associated with the aisle, company leaders, advocates, and scientists will talk about the Act. (more…)